Manufacturers, in order to generate more sales, tolerate retail manipulation by stores. Retail manipulation commonly focuses on how sell a specific product beyond the needs of a consumer. The responsibility to sell products is now being transferred to the retailing store.
The actual interaction between buyer and seller takes place in a retail store, that’s why there will be more focus on manipulation in retailing outlets. Some stores have a tricky floor layout to manipulate the buying behavior of consumers. There are also some tricky sales talks that will make you happily buy a certain product even if it is beyond of your needs.
One of the most popular retailing stores is BestBuy, which employ retail manipulation to sell their products. They admitted that they kept up a fake web site to trick customers. The trick here, is if a potential customer checked the BestBuy website and found an item with a pretty attractive price then went to the store to ask for it, the store’s salesperson will checkout a fake website inside the store and will show to the customer that the price has already gone up.
Retail manipulation also includes deceptive price tags. For example, for Apple’s famous iPhone, you will notice that on their website the price of their latest iPhone starts from $99 only. Pretty cheap right? But as you go further in your shopping you will notice that the iPhone that is being sold by $99 must be attached with 2 year AT & T locked-in subscription plan. The bad thing here is, you can’t get an iPhone with other mobile services aside from AT & T unless you unlocked it.
Nigerian Finance and for that matter, the entire economy of Nigeria is primarily oil based, with the natural resource providing some 95% of foreign exchange earnings and 65% of government revenues. Currently the country exports some $45billion dollars worth of products and imports some $42billon dollars worth. This strong dependence on oil fundamentally drives violence in the Niger Delta where the oil is mined, because the indigenes believe they have not received from the nation, in the proportion in which they contribute to it.
High oil prices support government’s budget and programs. One such program is an audacious one where the country hopes to become one of the top 20 economies in the world by 2010. The FSS 2020 seeks to maintain the country’s economic growth through solid reforms in Nigerian Finance system via the consolidation of banking sector reforms, recapitalization and consolidation of the insurance and capital markets, the creation of microfinance banks, solution of the pension crises, monetary policy reforms and restructuring of the Nigerian Security Printing and Minting company.
Nigeria Stock Exchange is a major supporter of Nigerian Finance. The exchange is one of the largest on the entire continent of Africa with a market capitalization of some $125billion. The exchange features an automated trading system and transacts huge volumes of trades daily. The Ministry of Finance, formed to reinforce the countries development objectives is the main national organ overseeing the financial system. Lagos is the heartbeat of the financial system.
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Nigerian Finance & Education in Nigeria Analyzed
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Tags: continent of africa, education in africa, exchange earnings, market capitalization, niger delta